Ron Paul’s Bill To Audit The Federal Reserve Now Has 134 Co-Sponsors

This is history in the making, and victory is within reach. Imagine what will happen if HR 1207, The Federal Reserve Transparency Act, comes up for vote in Congress! With 30.8% of the House of Representatives already co-sponsoring this bill, it has real potential to pass — BUT only if we educate and rally the people to support it and get our Congresspeople to put it to vote and pass it.

Step 1: Your Representative

If your representative is not on the following list of HR 1207 co-sponsors, call their offices, write to them, email them, etc. Let them know they need to support HR 1207. If you live in their district, let them know. Go to their office.

Step 2: Financial Services Committee

HR 1207 is now in the House Committee on Financial Services. This is THE MOST IMPORTANT STEP in this legislation! If it doesn’t get out of committee it will not come to a vote! There are 71 members on this committee and they are all listed below.

We need to let all members of the House Committee on Financial Services know that we want them to allow full House consideration of HR 1207 so it can move forward; we need them to support this. Now is the time.

Call their offices, write to them, email them, etc. Let them know they need to support HR 1207. If you live in their district, let them know. Go to their office.

Please co-sponsor and/or support H.R.1207, an effort to audit the Federal Reserve.

Recently, it has come to light that there is little to no accountability to the people on the part of the Federal Reserve. While the citizens of this country are required by law to give an accounting of every penny they come in contact with, the Federal Reserve has never been held to the same standard. During this time of extreme economic crisis, the people deserve an accounting of where our money is going.

Currently there are 134 co-sponsors for this legislation, and it is enjoying bi-partisan support. Your efforts in supporting this important legislation would go a long way in proving to your constituents that you not only hold the Federal Reserve to the same standard as you do your constituents, but it would also show that you believe in transparency. Anything less than support for this resolution suggests that you are in favor of secrecy and a lack of accountability to the people who pay the bills. We pay the tab; we have a right to know where our money is going.

Unlike recent bills that you voted in favor of that had hundreds of pages and just a few hours to read, this bill can be read in under 5 minutes. I encourage you to take the time to read it, and then move to support it.

Thank you in advance for your attention on this important legislation. I have every expectation that you will do right by your constituents and support this measure.

Sincerely,

Step 3: The People

Tell everyone you know about HR 1207 and ask them to support it and to contact their representative as well. Link to this page and to CampaignForLiberty.com.

This initiative is crucial and we need to redouble our efforts to get HR 1207 passed.

From your letter, it is apparent you believe:
1. The Federal Reserve is currently apolitical despite examples to the contrary, the most recent being Timothy Geithner moving from President of the New York Federal Reserve to the top position in the Treasury Department. The revolving door between the Fed. and the big banks and brokerage houses that are being bailed out seems to be a non-issue with you as well.
2. The government cannot simply demand to see the accounts of a bank, but were not the stress tests just that? This is unacceptable ignorance on your part.
3. The Federal Reserve should be able to use taxpayer funds with virtually no taxpayer protections and oversight that H.R. 1207 would provide.
4. The Federal Reserve has prevented instability in the economy demonstrated by their track record, and has inspired confidence in the markets that our economy is in good hands.

Is is nothing short of appalling that you could hold these views as demonstrated by your letter, and you clearly are not qualified to represent me.

I emailed Charlie Gonzales (D-TX) about a month ago and called him last week, this is the response I got from him today:

I have followed the Financial Service Committee’s oversight hearings of the Federal Reserve and the banking system with great interest and Congress must remain vigilant and meet our oversight obligations. With the size of government investments in recent months, the desire and right of the government to such scrutiny has never been higher.

The Treasury, Federal Deposit Insurance Corporation, and other regulators have performed just such an investigation in the course of the stress tests of the largest banks. FDIC keeps a constant watch on all of its member banks as well, and Congress will continue to hold hearings and investigate so the government is on the job. At first blush, the Federal Reserve Transparency Act of 2009 (HR 1207) looks like just another aspect of that scrutiny. Closer examination, however, reveals some problems with this bill’s approach.

The United States Code has strict provisions to prevent the federal government from improper direct interference in the way businesses operate. One of those restrictions is that the government may not simply demand to see the account books of a bank. HR 1207 would remove that protection, exposing all banks to partisan, political pressure. That it exposes the Federal Reserve to the same pressure is improper as well. Congress created the Fed to keep our country’s monetary policy in a non-partisan, apolitical agency, so the Governors could focus on setting wise policy regardless of how it might affect any political party. That was a wise decision and it has served us well over the years.

HR 1207 would undermine the very protections the Fed was created to provide, and would expose individual businesses to government interference. While systemic oversight is an important role, government is not supposed to micromanage business in this way. That’s just not a policy I can support.

Sincerely,

Charles A. Gonzalez
Member of Congress

Soooooooo IDK what to tell him. Seems like he’s pretty stuck on not supporting it. If anyone can come up with a rebuttal for that, let me know and I’ll be glad to pass it on to him haha.

The Federal Reserve System (of which it is none! not Federal
with no Reserve (the money it puts out is “fiat”) and is not
a System but a Bank in disguise to fool the publlic!

26 years after its’s founding in 1913 when the argument in favor
of a National Bank was to smooth out the “boom and busts” in US
economic cycle came the 1929 crash. Why wasn’t this deceptive
syetem repealed IMMEDIATELY?

There have been numerous “boom and bust” cycles when the FED MANIPLATED the M3 currency e.g. loosened credit rates, prices rose, closed down on credit, wealth was lost by the people, assets were bought at FIRE SALE PRICES by the MONEY MEN. This sequence explains WHY the MONEYED MEN end up with “all the marbles”!

Why shouldn’t the PEOPLE know what the FED is doing with OUR
MONEY? Your constituents should know that you are protecting
this “Monster” that has not let us in on its “GAME” for nearly
100 years! Your district will vote you OUT!

Joe Pitre

In regards to H.R. 1207. H.R. 1207 is still sitting in committee. Could Speaker Pelosi bring it out of committee and to a full house vote? If so why don’t we send out the message for everyone to start contacing her?

Pat, you may be right, however – you seem to be using an ‘ignorance is bliss’ approach to understanding what is going on with our monitary policy. I’m not sure that is the smartest thing. You are also very assumptive to what the end result may be. I really hope you don’t base your support of the bill based on the logic you just provided.

I think that this bill will have many unintended consequences. What will happen is that first people will become disgusted with the federal reserve. Then instead of abolishing this socialist entity, it will give the government, mainly the congress, to exert its control over the decision making of the fed. The idea of Nancy Pelosi and Harry Reid controlling our monetary policy is far more harmful than the fed itself.

bill mooney

The Fed. is a limited partnership and can avoid an audit by law.
The Fed. is 30 to 40% owned by European central banking famalies
and should be abolished due to fraud and manipulation allowing
insider trading. The Rothchilds,Warburgs,Lazards etc. should be tried for treason after giving Saddam Hussein 1 billion he requested for the insugency shortly before we went in there. They
did not want quick success as the profit was and is in prolonging
it, as long as possible.

dpjohnson

My fear is that they have so much control that they would bankrupt the American economy rather than give up their power and privacy.

NotRocketScience

It seems that they have already done just that.

Maria S. Weaver

I have emailed Representative Ortiz Jr. about co-sponsoring this bill. I still don’t see his name on the list.

My question is: why wouldn’t representatives co-sponsor this bill. I think that it is because they might have something to hide.

Kurt Tagtmeyer

I just tried Rep Delahunt’s (MA-10) office again. The person I spoke with (Katy) said she would pass the message along again to Mr. Delahunt. I have given my personal contact information to his office at least 3 times over the past few weeks so that he could inform me of his decision. I also asked for an explantion if he chooses not to co-sponsor this bill. I ask again, what is wrong with the Congressman and Senators in Massachusetts? I have to believe that, as another Ron Paul commentor said, MA politicians are in the pockets of special interests. I also believe that they are in it for their own interests as well.

I will keep trying anyway to get a MA co-sponsor on this list.

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